Short-term furnished rentals
Best for: Newcomers, temporary work, finding permanent housing
Pros:
- Fully furnished and equipped
- Utilities and internet usually included
- No furniture to buy
- Flexible lease terms (1-12 months)
- Can book before arriving in Canada
- No credit check usually required
Cons:
- 40-60% more expensive than unfurnished
- Limited selection
- Short-term lease (must move when lease ends)
- Less space than regular apartments
Typical cost: $2,000-$4,000/month for 1-bedroom in major cities
Long-term unfurnished apartment
Best for: Long-term residents, families, anyone staying 1+ years
Pros:
- Much cheaper than furnished (30-40% less)
- More options available
- Usually month-to-month after first year
- More space
- Rent control in some provinces
- Can personalize and decorate
Cons:
- Must buy all furniture and household items
- Higher upfront costs
- Harder to get (competitive application process)
- Requires Canadian references and credit
- Must set up utilities and internet separately
Typical cost: $1,400-$2,800/month for 1-bedroom depending on city
Room in shared house/apartment
Best for: Students, young professionals, budget-conscious renters
Pros:
- Much cheaper (save 30-50% on rent)
- Bills split between roommates
- Often semi-furnished (common areas have furniture)
- Social – built-in community
- Easier application process
Cons:
- Less privacy
- Shared kitchen and bathroom
- Dependent on roommate compatibility
- Shared responsibilities (cleaning, chores)
- May have house rules
Typical cost: $600-$1,400/month for a room depending on city
Basement apartment
Best for: Budget-conscious renters, newcomers
Pros:
- Cheaper than above-ground apartments (20-30% less)
- Often includes separate entrance
- Usually includes utilities (heat especially)
- Quieter (less street noise)
- Cooler in summer
Cons:
- Less natural light
- Can feel closed in
- Potential moisture/mold issues
- Lower ceilings
- Less privacy (landlord lives upstairs)
- Some basement apartments are illegal (check for legal requirements)
Typical cost: $1,000-$2,000/month for 1-bedroom depending on city
⚠️ Legal basement apartments
Not all basement apartments are legal. Legal basement apartments must have:
- Separate entrance
- Minimum ceiling height (varies by province/city)
- Proper egress windows (fire safety)
- Separate address/unit number
- Proper plumbing and electrical
Illegal basement apartments can be shut down by the city, forcing you to move. Always verify legality before signing lease.
Student housing (residence)
Best for: University and college students
Pros:
- On or near campus
- All-inclusive (utilities, internet, furniture)
- Social environment
- Meal plans often available
- No furniture to buy
- Short-term leases (8-12 months)
Cons:
- Limited privacy (shared room or bathroom)
- Strict rules (quiet hours, visitors)
- More expensive than off-campus
- Limited availability
- Must move out during summer (some residences)
Typical cost: $8,000-$15,000 per academic year
Buying vs renting
Don't buy immediately when moving to Canada:
- You need to understand the housing market first
- You need established credit history for mortgage
- You need down payment (5-20% of home price)
- You need stable employment history
- You need to know which neighborhood you want to live in
Rent for at least 1-2 years before considering buying. This gives you time to establish yourself and understand the market.
